Meta and Tesla Earnings Set Mixed Tone as SpaceX Lifts Nasdaq
The session was shaped by quarterly results: Meta exceeded Q3 expectations and created a new nonvoting share class to support AI investment, while Tesla's uneven results and cautious guidance hurt sentiment and pressured Asian chip suppliers. SpaceX's strong earnings and Elon Musk's comments about a possible SpaceX-Tesla merger helped push the Nasdaq up about 1%. After-hours futures retreated as investors weighed the mixed technology picture and a $25 billion New Mexico judgment against Meta.
Meta’s quarter showed stronger ad revenue than analysts expected, and the company approved a separate class of shares without voting rights to fund AI work. A New Mexico court order requiring a $25 billion payment added a legal burden that tempered the earnings reaction.
Tesla posted uneven quarterly figures and a guarded forecast, pushing its after-hours shares down 2.9% to $375.19 and weighing on Asian chip and EV suppliers. SpaceX’s results and Musk’s merger remarks helped the Nasdaq gain about 1%, while late futures softened.
The mixed earnings picture could affect ordinary investors through retirement and brokerage accounts, while Meta’s AI spending and legal exposure may influence hiring, ad prices, and platform policies. Tesla’s caution could ripple through suppliers and EV buyers. SpaceX’s merger speculation may shape governance expectations for public markets. Asian chip workers and tech-dependent communities may feel demand shifts first. These outcomes remain uncertain and depend on appeals, guidance, and how investors price risk.